Author: Gambeta News

US$24BN SCANDAL HIT STATE OIL CORPORATION, NIGERIA

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US$24BN SCANDAL HIT STATE OIL CORPORATION, NIGERIA

Nigerian National Petroleum Corporation (NNPC) boss on tension as Minster of State for Petroleum Resources expose illegal contract deal.  Mr Ibe Kachikwu, the Minster of State for Petroleum Resources, has given details to the presidency of some questionable dealings of the Group Managing Director of NNPC, Maikanti Baru. Mr. Kachikwu on an August 30 correspondence said Mr. Baru bypass procurement regulations in awarding a series of contracts which were up to US$25 billion, which he…

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NEW FLEXIBLE TRANSISTORS FOR ELECTRONICS

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NEW FLEXIBLE TRANSISTORS FOR ELECTRONICS

The most functional flexible transistor in the world has just been created by a team of University of Wisconsin-Madison engineers. it is fast, simple and inexpensive to fabricate. This advancement in flexible technologies could open the door to an increasingly interconnected world where smart wireless technologies can be easily connected to other small devices and not experience any interference when these devices curve, bend, stretch or move.  

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FLOOD GAVE WORKERS QUIT NOTICE IN SOUTHERN NIGERIA

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FLOOD GAVE WORKERS QUIT NOTICE IN SOUTHERN NIGERIA

Old secretariat complex at Asaba, Delta State was flooded and it prevented workers from entering their offices On Wednesday flood prevented Delta state civil servants from entering their offices at the old secretariat complex that is located on summit Road Asaba. Newsmen reports that  the flood occurred due to the Tuesday night’s downpour in the area. At the entrance of the secretariat complex, workers gathered  with their cars parked on the Summit Road as flood took over…

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AIRTEL LAUNCHES 4GLTE TELECOMMUNICATION TECHNOLOGY IN UGANDA

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AIRTEL LAUNCHES 4GLTE TELECOMMUNICATION TECHNOLOGY IN UGANDA

Airtel Uganda improves in its network and still keeping it cheap for subscriber. The 4G LTE network will enable Airtel Uganda to provide its subscriber around the country the fastest available speed  and an improved experience in internet based activities such as video conferencing, mobile web access, amongst  others. According to Airtel managing director, V.G Somasekhar, with the 4G LTE technology, customers would have an overall improved internet experience at an affordable rates. he added…

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UGANDA REDUCES LENDING RATES TO 9.5%

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UGANDA REDUCES LENDING RATES TO 9.5%

Bank of Uganda reduces lending rates to 9.5%, to help boost private sector credit growth. Aiming at stimulating the economy and boosting private sector lending, Uganda’s Apex bank, Bank of Uganda have reduced the Central Bank Rate (CBR) from 10% to 9.5%. This reduction have been confirmed as the lowest the country have known since 2011, as the government targets stabilization of  its market using short term interest rates. Here is a statement  from the…

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IN SIX MONTHS U.S SPENT $2.7BN ON NIGERIA CRUDE OIL

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IN SIX MONTHS U.S SPENT $2.7BN ON NIGERIA CRUDE OIL

Nigeria gets a good business relationship with the U.S  as they inject $2.7billion just in six months into their economy. Just in six months the U.S spent $2.7 billion on oil imports from Nigeria, they agreed to increase its import of nigeria crude oil by 32.1percent to 52.36 million barrels  in the first half of the year. According to the latest data revealed by the US Energy  information administration, the statistical arm of the Energy department,  the…

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ZIMBABWE GETS US$7m AGRICULTURAL BOOST

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ZIMBABWE GETS US$7m AGRICULTURAL BOOST

European Union (EU) to help revitalize dwindling Zimbabwean agricultural sector with US$ 7 million. Zimbabwe have been experiencing a consist shrink in its agricultural industry since it’s President, Robert Mugabe, handed over white farmers seized land to former liberation war fighters. Agriculture, been one of the major key players in most African economies, the European Union (EU) has agreed to provide a financial boost to the Zimbabwean Agricultural sector. This boost which is valued at US$7m…

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ETHIOPIAN AIRLINES GOES DIGITAL ON ITS OPERATION

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ETHIOPIAN AIRLINES GOES DIGITAL ON ITS OPERATION

Ethiopian airlines has successfully removed papers from its business processes As a result on going green, Africa largest airline ( Ethiopian Airlines) has digitalized all its business processes like air craft maintenance, flight operation, commercial operation and finance. Others tends to include; human resources management, customer services, procurement and supply chain management, online learning, authorization and management approvals, etc. To remove paper all this processes are now shifted to e-platform. The initiative would remove paper from…

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Guinea Bissau reduces debt by 90%

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Guinea Bissau reduces debt by 90%

Support from ASLF helps Guinea Bissau reduce debt to Export-Import Bank of China (Exim Bank) by 90%. The African Legal Support Facility (ALSF) assisted the Guinea Bissau Government during an outstanding debt negotiation with China’s Export-Import Bank (Exim Bank) in Singapore. This assistance resulted to a series of  settlement and debt-restructuring that saw both parties (i.e Guinea Bissau and Exim Bank) agreeing to a 90% reduction in the outstanding debt obligation. This reduction which have saved…

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R16M SOLAR FARM INSTALLED ON TOP OF RANDRIDGE MALL

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R16M SOLAR FARM INSTALLED ON TOP OF RANDRIDGE MALL

As part of promoting the use of renewal energy, Emira property funds has installed R16m solar farm on top of its Randridge mall in Randpark ridge, Johannesburg. The photovoltaic solar farm  on the mall consists of 10,900 panels, it produces approximately 1.2MWh of electricity.Its panels were specially imported and manufactured by Canadian Solar/Jinko, and it uses SMA inverters. This solar farm helps the mall to save 2GWh of electricity every year, and it is estimated…

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3D SELFIE SOFTWARE

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3D SELFIE SOFTWARE

Researchers at the university of Nottingham has developed a software which uses an artificial intelligence (AI) to convert 2D images into 3D in seconds.  Selfie lover’s have  you ever wondered what your 3D selfie would look like? well now you could try something new to experiment with. Researchers at the University of Nottingham have developed a technology capable of producing 3D facial reconstruction from a  2D image called ‘the 3D selfie’. It was developed using…

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Webinar: Disrupting industry with technology and people

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Webinar: Disrupting industry with technology and people

About this event A generational change is happening in the workplace. There are enormous pressures to transform everything from work environments to business models to complete cultures. Workers are more nomadic, organisations and their challenges are more complex and new technologies are helping push past the limits of what’s possible. To stay ahead of these trends we need to understand how technology is disrupting businesses now and how it will in the future. In this…

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WORLD LARGEST OBSERVATION WHEEL IN DUBAI NEARS COMPLETION

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WORLD LARGEST OBSERVATION WHEEL IN DUBAI NEARS COMPLETION

 UK’s Mace almost done with the observation wheel in bluewaters island that is going to be the largest in the world once it is completed. Once the wheel is  completed, the 210m wheel will dwarf  the  currently world’s tallest observation wheel which is  167m high  in Las Vegas  and even the planned 192m high New York Wheel  that will  be completed by next  year April as well as Britain’s 135m London Eye. Dubai’s latest attraction has…

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MINING ACTIVITIES COMMENCES IN GUINEA AFTER RIOTS

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MINING ACTIVITIES COMMENCES IN GUINEA AFTER RIOTS

Bauxite mining activities commences again in Guinea after dialogue with protesters.  Protests and riots by enraged Guinean youths due to electricity cuts and lack of job and services had led to the halt of mining activities in the country, especially in the Guinea’s Boke region which is “home to two major companies that each produce about 15 million tonnes of the aluminium ore bauxite annually,” which makes up almost all of the country’s production. Mining…

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SAUDI ARABIA ANNOUNCED THAT WOMEN WILL BE ALLOWED TO DRIVE

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SAUDI ARABIA ANNOUNCED THAT WOMEN WILL BE ALLOWED TO DRIVE

Saudi Arabia takes a step forward  to end gender discrimination with this new announcement.  This courageous decision will  end what was regarded as a form of discrimination against females, and solve a long-lasting logistical nightmare for many Saudi women who will from June 2018  be able to drive  freely. King Salman ordered the reform in a royal decree delivered on Tuesday night, requesting that drivers’ licences be issued to women who wanted them. Prince Khaled…

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UBER PUBLIC BUS SERVICE SOON TO COMMENCE IN EGYPT

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UBER PUBLIC BUS SERVICE SOON TO COMMENCE IN EGYPT

Uber, the smartphone enabled ride-hailing service alternative to traditional taxi-cabs is set to launch a public bus service in Egypt. Egypt been the most populous Arab country with a population of over 90 million is faced with heavy traffic, which Uber is striving to ameliorate since its arrival in 2014. Currently the Uber service is available in only three(3) Egyptian cities, Cairo, Alexandria and Mansoura. The new Uber bus service which aims at expanding into other…

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